The corruption of capitalism

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investorzzo's picture
investorzzo
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The corruption of capitalism

Richard Duncan has a new book. He tells how we went wrong and more amazing on how we might get out. In this interview you will get a taste of the three course meal. Well done. Jon

http://www.netcastdaily.com/broadcast/fsn2010-0109-2.mp3

The global economy is in crisis. The financial system has failed, international trade has contracted sharply and unemployment has soared. Only a multi-trillion dollar government intervention is preventing a worldwide breakdown on the scale of the Great Depression.
In The Corruption of Capitalism, Richard Duncan provides a clear and comprehensive explanation of how this calamity came about. He also offers a strategy to permanently resolve it. The book is divided into three parts. Part I describes the present state of the global economy and the government life support keeping it afloat. Part II details the long series of US policy mistakes responsible for this disaster. Part III outlines the actions required to restructure the US economy and restore global economic growth.
Capitalism has been corrupted by paper money and debt. Sustainable prosperity will require a return to economic orthodoxy.

Dogs_In_A_Pile's picture
Dogs_In_A_Pile
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Re: The corruption of capitalism

Welcome back zo.

Damnthematrix's picture
Damnthematrix
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Re: The corruption of capitalism

" Part III outlines the actions required to restructure the US economy and restore global economic growth."

I'd like to see that.....  Economic growth is FINISHED.

Mike

investorzzo's picture
investorzzo
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Re: The corruption of capitalism

Thanks Dogs_In_A_Pile, 2009 was one of the toughest years in memory.

docmims's picture
docmims
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Re: The corruption of capitalism

They got Bernie Madhoff........ of course he's small potatoes compared to Goldman Sachs who is small potatoes compared to the Fed who is a lacky of the British central bank who does the bidding of Switzerland.  Do you think the US really has the authority to touch a Rothschild? Oh well easy come, easy go.  My serf's wallet was probably too thick anyway.

Just curious why do you call it capitalism?  That assumes a free market where a little guy like me can go into competition with the big corporations without the government coming in and shutting me down for some regulation or another.  Corporatocracy would be more appropriate,

investorzzo's picture
investorzzo
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Re: The corruption of capitalism
docmims wrote:

They got Bernie Madhoff........ of course he's small potatoes compared to Goldman Sachs who is small potatoes compared to the Fed who is a lacky of the British central bank who does the bidding of Switzerland.  Do you think the US really has the authority to touch a Rothschild? Oh well easy come, easy go.  My serf's wallet was probably too thick anyway.

Just curious why do you call it capitalism?  That assumes a free market where a little guy like me can go into competition with the big corporations without the government coming in and shutting me down for some regulation or another.  Corporatocracy would be more appropriate,

Good point, Crony capitalism. Goldman sells it's CDO's to the market with moody's or some others endorsement (AAA) and then after the sale shorts the CDO's. Them has Paulson get rid of Lehman brothers and their competition. Bails out AIG at 100 percent. Who gains from it, Goldman Sachs.

agitating prop's picture
agitating prop
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Re: The corruption of capitalism

Capitalism, generally speaking, is based on expansion. On a planet with finite resources and 6 billion people, capitalist style economic growth is no longer viable. If the author is promoting a capitalist system that grows all kinds of alternative forms of living, sustainability, permaculture, etc..while providing easy access to euthanasia for the terminally ill, and all forms of birth control, it might be doable.  Though I cringe at the idea of  any kind of state intrusion into the lives of anyone, I do see the benefits, though wouldn't necessarily advocate, some kind of genetic screening before a person is allowed to breed. Perhaps a better idea would be to offer people a year's supply of cigarettes, booze, porn,  if they agree to be sterilized.  This might work. It would certainly remove impulsivity from the gene pool.

Carl Veritas's picture
Carl Veritas
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Re: The corruption of capitalism

 

There is corruption in Socialist economies (just ask people from the old USSR)

There is corruption in Capitalist economies

There is corruption in Fascist economies

There is corrution in Islamic regimes

There is corruption in Government everywhere

Your powers of observation is extraordinary

Dogs_In_A_Pile's picture
Dogs_In_A_Pile
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Re: The corruption of capitalism
docmims wrote:

Do you think the US really has the authority to touch a Rothschild? Oh well easy come, easy go.  My serf's wallet was probably too thick anyway.

Hey Doc -

Iceland did. 

Iceland said "No, we are not going to pay back ~$5B on the backs of 300,000 Icelandic '-dottirs' and '-ssons'"

And so far, the fallout is "We won't let you in the (organization that is failing anyway) EU"

Granted, Iceland is a little domino, but it is a domino and it has fallen............

 

DrKrbyLuv's picture
DrKrbyLuv
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Re: The corruption of capitalism

Richard Duncan totally misunderstands the "corruption of capitalism."  He points to the 1960's as being the beginning and the problem was "massive government debt and paper money."

First of all, the problem goes back a lot further than the early 1960s. I would remind Duncan that the U.S. went bankrupt in 1933, while on his gold standard.  Second, he is half right on the massive debt problem but has totally missed the cause.  The cause of the problem is that the U.S. borrows money at interest from banks that don't have any money.  He should take the Crash Course to discover that debt will grow at an exponential rate in our debt based money system.  Inevitably, a time will come when the debt can no longer be sustained - that's where we are now. 

Capitalism has not been corrupted, at least not in the U.S. as we haven't practiced capitalism for almost 100 years.  We have monopoly capitalism which like communism, nazism and fascism is a form of feudalism.  Capitalism cannot exist when the power to create and control the money is held as a private monopoly.

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theknight
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Re: The corruption of capitalism

well I must say that very good work done by Richard Duncan .... very deep analysis and all the references alongwith the explainations is just awesome... but still its hards to start in the way as Richard Duncan wants in his book..... wonder it will take time....

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